21 Aug 2014
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Youngsters Get Interest in Banking

The banking program teaches the importance of saving from a young age.

Youngsters Get Interest in Banking

Students learn about money and the importance of saving first-hand at the Grafton schools.

You can take that to the bank.

Students in kindergarten through grade 5 participate in a school banking program, sponsored locally by the and nationally by schoolsavings.com.

Once a week, students make a deposit at school with the help of an adult volunteer. The volunteer takes the student funds to a local bank or credit union and makes a lump sum deposit.

The next business day, Websaver processes the funds through the Federal Reserve Banking System. Student deposits appear on their regular account statements.

The program teaches the youngsters the importance of saving by allowing them to see their deposits grow week to week. They also learn about the jobs offered in a bank, including tellers, computer clerks and customer service managers.

“The kids get excited about it,’’ said North Grafton Elementary School parent volunteer Ed Romeo, chairman of the school banking parent volunteers. Taking on a new job at the bank has become a “rite of passage’’ for the youngsters, he said.

His daughter bought a Nintendo with the money that accumulated in her account.

The program helps youngsters learn the importance of savings from a young age, said Ann Kjellberg, financial advisor at Grafton Suburban Credit Union.

“They learn to save for a rainy day,’’ she said.

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